TMLP announces power charge cut
Monday, January 12, 2009 3:20 PM EST
TAUNTON - Taunton Municipal Lighting Plant has announced a power charge decrease of 1 cent per kilowatt hour effective Jan. 1.
The decrease, which will amount to 5.78 percent or approximately $7.12 for the residential customer using 750 kWh, is attributable to two primary factors: lower forecasted charges during 2009 from Mirant's Canal Generating Station, and lower costs for TMLP's open position on the market.
TMLP's open position (i.e., need for generation that is not locked into contractual power) accounts for roughly 20 percent of its power supply portfolio.
"Although we are forecasting a constant Purchased Power Cost Charge (PPCA is forecasted to stay at $0.0577 during 2009)," explains Michael Horrigan, TMLP General Manager, "our customers need to understand that should pricing change dramatically, we will need to revisit the PPCA without delay.
"We are trying to be responsive to the changing market by providing our customers with needed relief of lower electric bills, however it is a situation that will need to be monitored very closely."
TMLP serves 35,000 customers in Taunton, Raynham, Berkley, North Dighton, Lakeville and Bridgewater.
